Chainalysis maps Xinbi scam marketplace that processed $24 billion
- —Xinbi ran hundreds of Chinese-language Telegram channels with escrow services
- —Clients included Southeast Asian scam compounds and North Korean hackers
- —US froze $52 million, including two wallets holding about $12 million
- —Online scams cost $442 billion across 42 countries in 2025
Why it matters: The case shows the scale of scam infrastructure and stablecoins' role in laundering, with rival marketplaces already moving funds.
Source: Journal du Coin